Let's discuss the 1000 bpd fiasco.... This projec

Let's discuss the 1000 bpd fiasco....

This projection was made by home office as the Madeley well came in and home office knew it was about 200 bpd. There were 5 locations we had to drill around there that were supposed to come in alike. This projection was given to home office by I believe by Jimmy Johnson. At the time it seemed very plausible given the flow of the Madeley. Home office along with myself were very excited and PR was drawn up and released to what was believed at the time.

We all know the rest of the story as the Madeley had it's problems and to this day has not been restored even after spending 100's of thousands of dollars. There is still no answer there and everyone is still working on it although no capital will be spent until a well thought out plan is in place. 90 to 120 days before that may occur. It's a fix, if we can manage it, in the realm of 100k to 200k I believe.